Financial boost for Twente

Troubled Dutch club FC Twente have been given a financial lift after receiving a loan of €4.5m from the city of Enschede.

Conditions made
With this aid, the club will also be able to secure help from private investors for a further €6m. However, the city authority has placed some demands on its loan. Twente must seek to raise money through a debenture loan scheme in the next six months and report periodically to the city board, which will place a representative inside the club.

Still playing
Last month, the FC Twente ’65 foundation that owns the club was declared bankrupt with a tax debt of €1.3m. The ruling did not prevent the club from fulfilling their remaining fixtures although the club must clear its debts if it is to gain a licence for next season.